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Author Question: The local high school soccer club need to borrow to finance a new soccer field. Repayment of the ... (Read 157 times)

Collmarie

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on: Jun 6, 2019

Question 1

A sum of money is deposited at the end of every month for 9 years at 8.5% compounded monthly. After the last deposit, interest for the account is to be 8.1% compounded quarterly and the account is to be paid out by end-of-quarter quarterly payments of $1800.00 over 7 years. What is the size of the monthly deposit?

Question 2

The local high school soccer club need to borrow to finance a new soccer field. Repayment of the loan involves payments of $10 000.00 at the end of every three months for eight years. No payments are to be made during the development period of five years. Interest is 8% compounded quarterly.
a) How much did the Achievers borrow?
b) What amount will be repaid?
c) How much of that amount will be interest?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by Collmarie on Jun 6, 2019

jazzlynnnnn

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Collmarie

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Reply 2 on: Jun 6, 2019
Excellent

milbourne11

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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